OK so I really have zero life and today I uninstalled GTAV from my PS4 so I could re-install it before the updates. I stopped them from downloading, and started the game up again.
Yes, POM is there but it's not exactly FC4 kind of quality so it's not a huge loss.
What is much more interesting is the damage of the cars is indeed more evident pre-updates but the main issue here is that it makes the game harder. With the updates I could hit another car head on at any speed and I'd get some damage. Pre-updates my character actually dies if I do that, and the car is smashed a bit more - though that's just a graphical point. And also, when I played with the updates installed, I couldn't 'kill' any car. Now after a few good hits, the car will stop working.
Also, the handling feels different and tricker to control at times than post-updates.
Funny how the updates feel, to me, as if they made the game easier, with the cars not dying, my character not dying either if I smash at high speed... And yes the framerate is noticeably better post-updates.
Now I just have to decide whether to install the update, as the framerate is definitely better.